The following tax rates, thresholds and allowances are valid for the 2014 - 2015 Tax Year in South Africa which is known as the 2015 Tax Year. The Tax Year runs from 1 March 2014 - 28 February 2015

Rates for Individuals

South Africa 2015 Tax Tables for Individuals

Taxable Income (R)

Percentage rate of tax due within the threshold

R0.00 - R174,550.00

18% of income within the threshold

R174,550.00 - R272,700.00

25% of income within the threshold + R31,419.00

R272,700.00 - R377,450.00

30% of income within the threshold + R55,957.00

R377,450.00 - R528,000.00

35% of income within the threshold + R87,382.00

R528,000.00 - R673,100.00

38% of income within the threshold + R140,074.00

R673,100.00 - R0.00

40% of income within the threshold + R195,212.00

South Africa 2015 Tax Tables for Individuals

R0.00

Tax Free Threshold Under 65

R0.00

Tax Free Threshold Over 65

R0.00

Tax Free Threshold Over 75

R0.00

Tax Rebate Under 65

R0.00

Tax Rebate Over 65

R0.00

Tax Rebate Over 75

Medical Tax Credit Rates

Please note that the Medical Tax Credit is a non-refundable tax credit and cannot be carried over to the next tax year. The MTC is a fixed monthly amount that increases in line with the number of dependants you claim for. Note that the figures below show the annual Medical Tax Credit amounts

South Africa 2015 Tax Tables for Medical Tax Credit Rates

R0.00

R2,904.00

Medical Tax Credit for the taxpayer who paid the medical scheme contributions

R2,904.00

Medical Tax Credit for the first dependant

R1,944.00

Medical Tax Credit for each additional dependant(s)

7.5%

Medical Tax, percentage of deductible earning

Companies, Trusts and Small Business Corporations (SBC)

South Africa 2015 Tax Tables for Companies, Trusts and Small Business Corporations (SBC)

28%

Company with financial years ending 1 April 2014 - 31 March 2015

28%

Personal service provider companies

33%

Foreign resident companies which earn income from a source in South Africa

Medical Tax Credit Rates

Please note that the Medical Tax Credit is a non-refundable tax credit and cannot be carried over to the next tax year. The MTC is a fixed monthly amount that increases in line with the number of dependants you claim for. Note that the figures below show the annual Medical Tax Credit amounts

South Africa 2015 Tax Tables for Medical Tax Credit Rates

R0.00

R2,904.00

Medical Tax Credit for the taxpayer who paid the medical scheme contributions

R2,904.00

Medical Tax Credit for the first dependant

R1,944.00

Medical Tax Credit for each additional dependant(s)

7.5%

Medical Tax, percentage of deductible earning

Interest and Dividends

South Africa 2015 Tax Tables for Interest and Dividends

R23,800.00

Interest Exemptions threshoold for an individual younger than 65

R34,500.00

Interest Exemptions threshoold for an individual 65 and older

15%

Final Withholding tax charged on interest from a South African source payable to non-residents

R20.00

Dividends Tax

R20.00

Foreign Dividends

R20.00

Foreign Dividends received by individuals from foreign companies (shareholding of less than 10% in the foreign company)

Capital Gains Tax (CGT)

South Africa 2015 Tax Tables for Capital Gains Tax (CGT)

13.32%

Capital Gains Tax for Individuals and Special Trusts

18.65%

Capital Gains Tax for Companies

26.64%

Capital Gains Tax for Other Trusts

Retirement Lump Sum Benefits

South Africa 2015 Tax Tables for Retirement Lump Sum Benefits

R0.00

27.5%

Pension Contributions: Maximum Income contribution

R350,000.00

Pension Contributions: Maximum Annual contribution

Withdrawal Benefit

South Africa 2015 Tax Tables for Withdrawal Benefit

Taxable Income (R)

Percentage rate of tax due within the threshold

R0.00 - R25,000.00

0% of income within the threshold

R25,000.00 - R660,000.00

18% of income within the threshold + R0.00

R660,000.00 - R990,000.00

27% of income within the threshold + R114,300.00

R990,000.00 - R0.00

36% of income within the threshold + R203,400.00

Retirement & Death Benefits or Severance Benefits

South Africa 2015 Tax Tables for Retirement & Death Benefits or Severance Benefits

Taxable Income (R)

Percentage rate of tax due within the threshold

R0.00 - R500,000.00

0% of income within the threshold

R500,000.00 - R700,000.00

18% of income within the threshold + R0.00

R700,000.00 - R1,050,000.00

27% of income within the threshold + R36,000.00

R1,050,000.00 - R0.00

36% of income within the threshold + R130,500.00

Income Tax Tables are used to calculated individual salaries, apply tax deductions and tax credits to produce a net take home pay (your income after deductions). Below is an example salary after tax deductions based on the 2014 - 2015 tax tables.